Murphy Capital Management Inc. Reduces Stock Position in IBM (NYSE:IBM)

Murphy Capital Management Inc. cut its stake in IBM (NYSE:IBM) by 2.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,724 shares of the technology company’s stock after selling 570 shares during the period. Murphy Capital Management Inc.’s holdings in IBM were worth $3,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of IBM. Amundi Pioneer Asset Management Inc. grew its position in IBM by 1.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 2,500,954 shares of the technology company’s stock worth $352,883,000 after acquiring an additional 27,813 shares during the period. Swedbank boosted its position in shares of IBM by 10.7% during the second quarter. Swedbank now owns 1,554,671 shares of the technology company’s stock worth $214,389,000 after buying an additional 150,472 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its position in shares of IBM by 0.7% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 522,989 shares of the technology company’s stock worth $72,120,000 after buying an additional 3,604 shares during the period. Comerica Bank boosted its position in shares of IBM by 1.0% during the second quarter. Comerica Bank now owns 292,981 shares of the technology company’s stock worth $41,917,000 after buying an additional 2,885 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of IBM by 15.0% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 217,102 shares of the technology company’s stock worth $29,938,000 after buying an additional 28,256 shares during the period. Institutional investors and hedge funds own 55.36% of the company’s stock.

Shares of NYSE IBM traded up $2.68 during mid-day trading on Friday, hitting $143.81. The company had a trading volume of 164,878 shares, compared to its average volume of 2,899,724. The company has a market capitalization of $122.59 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 2.16 and a beta of 1.33. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.83 and a quick ratio of 1.79. IBM has a 1-year low of $105.94 and a 1-year high of $152.95. The business’s 50-day simple moving average is $139.58 and its 200 day simple moving average is $139.33.

IBM (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 17th. The technology company reported $3.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.06 by $0.11. IBM had a return on equity of 69.56% and a net margin of 11.22%. The company had revenue of $19.20 billion for the quarter, compared to analysts’ expectations of $19.20 billion. During the same period last year, the firm earned $3.08 earnings per share. IBM’s quarterly revenue was down 4.0% on a year-over-year basis. On average, analysts expect that IBM will post 12.8 EPS for the current year.

IBM has been the subject of several research analyst reports. Nomura raised their price target on IBM from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Tigress Financial restated a “hold” rating on shares of IBM in a research report on Friday, July 26th. JPMorgan Chase & Co. restated a “neutral” rating and set a $152.00 price target on shares of IBM in a research report on Monday, August 12th. Credit Suisse Group restated a “buy” rating and set a $173.00 price target on shares of IBM in a research report on Friday, July 19th. Finally, KeyCorp restated a “hold” rating on shares of IBM in a research report on Monday, August 26th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. IBM has a consensus rating of “Hold” and an average target price of $155.63.

About IBM

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.

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Institutional Ownership by Quarter for IBM (NYSE:IBM)

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